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#台积电Q3净利润超预期，盈利创历史新高 Revenue grew 50.9% year-over-year to NT$1.49 trillion, net profit surged 68.7% year-over-year to NT$763.1 billion, both setting single-quarter historical highs. The 2nm advanced process now accounts for 8% of wafer revenue, with the overall advanced process ratio reaching 79%. AI chip demand remains the core driver.
However, the stock price fell more than 2% after hours.
The core issue lies in the gross margin guidance.
Q3 gross margin guidance is between 65%-67%, lower than the actual 67.7% achieved in Q2. The market is concerned that capital expenditures are continuously being raised (with the Arizona plant in the US, Kumamoto plant in Japan, and Kaohsiung plant progressing simultaneously), and the massive depreciation will erode profit margins in the coming quarters.
Simply put: earning more, but spending more. 【Did Maji just crawl back from the gates of hell? 25x leverage, 320 $ETH, still daring to play】
Big brother Maji was just liquidated once today, and then turned around with a 25x leveraged long position of 320 ETH remaining. Entry price was $2355.52, liquidation price $2334.84, currently floating profit of $6500. This profit is nothing in his track record, with only about 0.88% price space left before liquidation.
In the past 4 months, he once turned $56,000 into $12.25 million, but after today's liquidation, the address was left with only $21,800 at one point. The leverage clearly compresses the distance between making money and going to zero.
Coincidentally, today the entire ETH network liquidated about $240 million in long positions, with the price dropping near $2350, and Maji's position was almost walking on the liquidation line.
Gambling dogs are not advisable; even someone like Maji with unlimited bullets can't hold on, so retail investors need to be more careful and protect their principal to have a chance.#台积电Q3净利润超预期，盈利创历史新高
TSMC's latest financial report shows profits soaring nearly 70%, so why did the stock price fall? $TSM
Talking about TSMC's just-released Q3 financial report, revenue exceeded NT$1.49 trillion, net profit surged to NT$763.1 billion, a year-on-year increase of nearly 69%, with all indicators surpassing market expectations. The share of 2nm and advanced processes is extremely high, and demand for AI chips remains strong.
Interestingly, the market dipped slightly after the positive earnings announcement. The market isn't worried about its profitability but is questioning its highly ambitious capital expenditures.
This year, TSMC's capital expenditure has been raised directly to $64 billion, and in the coming years, it could even reach astronomical figures around $80 billion.
With nearly 20 factories being built worldwide simultaneously, this unprecedented expansion speed means very high depreciation costs and management dilution from overseas plant construction. Moreover, the gross margin guidance has been slightly adjusted, causing the market to be cautious about overcapacity and diminishing marginal returns on AI investments.
TSMC's short-term logic is monopoly premium—no one can replace it—but the mid-to-long-term logic will shift from the AI dividend period to the capacity digestion period. Once major tech giants move their AI investments into refined cost accounting, the huge capital expenditures will become a double-edged sword.
Earnings are at their peak, but the alarm bells for a sprint are also ringing.
DYOR Last night the CPI was released, and the market really reacted massively. The US stock market dropped 1.8 points, then the night session fell another 1 point, and during the day the Korean stock market crashed again. Companies like Hynix, SanDisk, and Micron all plummeted. Even crypto took a big hit, except gold might be holding up since it is known as a safe-haven asset and many countries are actively buying it. So in the short term, gold is relatively hard to fall.
The CPI result last night was very poor; the expected value was 3.6, but the actual release was 3.7, higher than expected. So the market thinks the Federal Reserve might raise interest rates in October. Currently, the market's predicted probability of a Fed rate hike has increased significantly. When we looked yesterday, the probability of a 25 basis point hike was only 19%, but today it has risen to 27%. It is expected to continue rising, but as long as this data does not exceed 50% before the FOMC meeting at the end of the month, and crude oil prices can retreat somewhat, the probability of a rate hike is not high.
However, a rate hike is like a double-edged sword; as long as there is an expectation, it will keep pressuring the market. It might be better to just raise rates in October. If rates are raised and inflation can be controlled by November, that would be good. Also, after the midterm elections in November, Trump will definitely intervene in the Iran issue since oil prices have been high for half a year. They can't stay this high forever!
But if rates are raised in October and inflation is not controlled, then rate hikes will likely continue, and the market will be doomed, leading to a worse outcome.
So currently, the US...The market is no longer betting on when the rate cut will happen, but on how many more hikes there will be.
Once the CPI came out, the bets flipped immediately. The probability of no change in October was nearly 80%, but now the bets on rate hikes have piled up, with three more expected by the end of 2027.
But this time, the reason for the rate hikes is oil.
Rate hikes target demand, but they can't control oil prices. Saudi Arabia won't pump out two more barrels just because the Fed raised rates once.
So this medicine can't cure this illness; it can only suppress the economy first. Prices that need to rise will still rise, and life will still be tight.
For us here, the meaning is straightforward: money will be withdrawn, and risk assets won't get fresh liquidity. Most rebounds in this environment are just for people to sell, don't mistake them for a market upturn.
Bitcoin is at 81,000, keep an eye on the 80,000 line; if it breaks, it will continue down. I'm not buying more.
With the market this bad, having to watch it every day, what's the point?
#TradersBetOnFedHikingThreeMoreTimes #SeptemberCPIIncomingHowWillOilAndUSTreasuriesMove $BTC 【Ondo's locked value has reached $4 billion, but $ONDO has yet to take off 】
Ondo Finance's total locked value has surpassed $4 billion, with tokenized stocks and ETFs accounting for over $1.3 billion, and the cumulative number of holders exceeding 1 million. The story of Wall Street going on-chain is indeed growing bigger with Ondo.
But ONDO hasn't taken off yet. TVL represents the platform's asset scale, not $4 billion directly buying ONDO. The US Treasury products provide yield, stocks and ETFs expand trading scenarios, and Ondo is still expanding into private markets. The business footprint is indeed growing.
ONDO has actually been falling these past two days, around $0.47 on October 12, then continuously dropping to about $0.43 on October 15. Business is hitting new highs, but the token is falling; clearly, the funds are not trading according to the same script.
I am optimistic about the long-term potential of the RWA sector, but right now, Ondo's growth cannot be directly equated with ONDO's value growth. ONDO is currently mainly a governance token; more platform assets do not mean token holders can directly share more income.
What to watch going forward is whether new assets can continue to grow, whether trading activity can be realized, and whether the token has a clearer value capture mechanism. The story has grown big, but whether the token can get a piece of this pie remains to be seen.Bitcoin fell below 82,000, and inflation data slammed stocks, bonds, gold, and crypto across the board. Mastercard spent $1.8 billion to acquire BVNK, with the stablecoin payment sector continuing to be swallowed by traditional giants. Chainlink feeds prices to Stellar, and the RWA narrative is still unfolding. Richard Heart was arrested in Turkey; it's an old scheme, stay away.
Just closed the security booth window; the wind outside is a bit strong.
TRUTH current price is 0.0172380. The candlestick broke below the short-term moving average, MACD shows a death cross, volume at the top is stagnant, and the trend has weakened. Looking at the liquidation chart, there are many short stop losses piled above 0.02, while the long support below is thin. Short-term weak pullback, with a liquidation attraction above that is a bull trap. If the rebound fails to break 0.018, it will continue to probe lower, testing the 0.015 range.
In terms of operation, the strategy is short. Entry zone is 0.0175 to 0.018, first take-profit target at 0.0155, second target at 0.015. Stop loss is set above 0.0188; if broken, accept the loss. Avoid blindly chasing longs; buying at this position just provides liquidity to the market makers.
Have a sip of tea and keep watching the market.
$TRUTH
#Anthropic称三季度营收升至168亿美元并实现盈利
@OKX星球 Lessons from the South Korean stock market are replaying in the crypto market
South Korea's KOSPI fell from a high of 9114 in June to 6035, a drop of over 30%. It went from being the best-performing index globally in the first half of the year to the worst-performing index globally in the second half, all within just over three months.
The mechanism behind this crash is worth every crypto trader's close attention. Foreign investors withdrew $131 billion from the South Korean stock market this year, and foreign ownership of Samsung Electronics dropped from 52.4% at the start of the year to 46.38%, the lowest since 2008. When foreign investors concentrate their withdrawal on two stocks that together account for more than half the index's weight, the index has no second support point.
The crypto market has similar structural risks. BTC accounts for 58% of the entire crypto market capitalization, and ETF net assets account for 6.38% of BTC's total market cap. When institutional funds start withdrawing from ETFs, there is no second "buyer group" to catch the fall. Retail investors will only sell in panic, not buy.
South Korean retail investors net sold 14.197 trillion KRW in Q3, wiping out all the buying in July and August. Retail investors fled when they were most needed to hold. The retail structure in the crypto market is even more fragile due to higher leverage, 24-hour trading, and no price limit protections.
The only thing I learned from this crash in the South Korean stock market is: when liquidity recedes, don't believe any "this time is different" claims. $BTC $ETH $ZEC #美国CPI超预期升至3.7%，今晚PPI再迎考验 1. Inflation: Sticky and Confirmed Last night, CPI broadly exceeded expectations: overall 3.7% (expected 3.6%), core 2.6% (expected 2.5%). Tonight's PPI is a leading indicator for CPI, checking if production costs have been passed on. Expectations: year-on-year 5.3% (previous 5.4%), core year-on-year 4.4% (previous 4.6%). Focus on core year-on-year; 4.4% is the market's bet on cooling, exceeding it would be a double confirmation. 2. US Dollar and Treasury Bonds: 10-year at 5.3% DXY surged to 102.86, a one-and-a-half-year high; 10-year US Treasury at 5.28%, 2-year at 4.87%. The implication is straightforward: global liquidity continues to tighten, and the pricing anchors for all risk assets are rising. BTC can't rally, and this is the root cause. 3. Oil and Geopolitics: Inflation's upside option Brent at $105, WTI at $94.6. In September, US-Iran military tensions escalated, Brent crude rose 14% in a single month breaking $100, and the Strait of Hormuz shipping volume remains 30% below pre-conflict levels. Oil prices are the direct driver behind this round of CPI surprises, and energy components in PPI will also be pushed higher. As long as geopolitical tensions persist, inflation has an additional upside option. 4. Global Markets: Broad declines, only gold benefited from safe-haven demand Nasdaq -1.88%, Nikkei -4.38%, South Korea's KOSPI down 7 consecutive days totaling -20%. Gold fell for 3 consecutive days after CPI to 4083, and the dollar weakened this morning #TSMCQ3RecordProfit Palantir Q3 (Nov 2) guided $2.16B revenue but street wants $2.25B-$2.30B and $0.41 EPS, so it must beat its own guide by 6%+ again. Valuation is extreme at $500B+ market cap, 161x P/E and 73x sales vs Nvidia's 28x. Growth is real (+93% Q2) but price needs perfection - that's why it fell after 2 of last 5 beats despite beating.$BTC 81,000 is not support; it’s the ETF cost line holding firm. On October 15, BTC dipped to a low of 80,985, marking the third time it tested this area. The average ETF holding cost is about 81,500, just right underfoot. Once it closes below this, ordinary ETF holders collectively turn to losses, accelerating redemption pressure.$BTC
Bitcoin ETF net outflow is $261 million, with Fidelity FBTC alone running off $153 million, and BlackRock IBIT outflowing $111 million. In the past 24 hours, the entire network liquidated $452 million, with long positions liquidated at $394 million and shorts only $58 million. The bulls are getting hit, the bears are collecting money.
The rebound rejection at 82,500-83,000 is the entry point, with stop loss set above 83,500. The target is first 80,200, and if broken, then 78,000.
ETF funds are not buying; the rebound is an opportunity to short. $BTC
With CPI released, continuous ETF outflows, and long liquidations far exceeding shorts—the data has clearly set the direction. But especially at times like this, control your impulses; don’t chase shorts at support levels. Wait for the rebound to be rejected at resistance before entering. The biggest taboo in shorting is rushing; wait for the market to give you signals, which is more reliable than finding your own signals. #美国CPI超预期升至3.7%，今晚PPI再迎考验 #台积电Q3净利润超预期，盈利创历史新高 Currently, this wave has dropped from 116 to 100, a retracement of 13.9%, which belongs to the shallow category. How long it takes historically to recover from this level can be answered by reviewing data from the past 1000 days.
The method is simple: isolate each drop from a stage high, categorize by the percentage drop, then count how many days it took to return to the previous high. Returning to the previous high is calculated by closing price, not just touching intraday.
For the 10% to 20% drop category, it occurred 53 times in the past two years, with 48 times returning to the previous high. The median time was 8 days, the fastest was 1 day, and the slowest took 219 days.
For the 20% to 35% drop category, it occurred 24 times, with a median return time of 46 days. Moreover, 5 times have not returned yet, with the longest wait exceeding 300 days.
A deeper category, 35% to 50% drops, happened only 5 times, with a median return time of 86 days, the fastest 37 days, and the slowest 202 days.
There is also a longer reference. $SOL's historical highest close was in January 2025 at $261.97, and it has not returned in 21 months, currently priced 60% lower.
Therefore, the deeper the retracement, the longer the wait to recover, and some in the deeper two categories never recover. This current 13.9% drop falls into the most common category, with a reference median of 8 days, and the slow ones take a few months. Out of 53 times, 48 have recovered.#奈飞增长或放缓，广告业务成新看点
I actually don't care much about Netflix's revenue in this earnings report.
Subscription plus ads achieving about 12% growth is basically within expectations.
What I'm watching is the profit margin guidance of 33.2%, compared to 28.2% in the same period last year.
This company has shifted from just acquiring users to making more money from each user.
With expectations set so high, even a good earnings report might cause the stock to drop.
If they say anything vague about the ad segment, people will sell after hours.
Tech stock sentiment has been so fragile lately; don't be too confident on the night of the 20th #PalantirQ3Valuation
Palantir Q3 (Nov 2) guided $2.16B revenue but street wants $2.25B-$2.30B and $0.41 EPS, so it must beat its own guide by 6%+ again. Valuation is extreme at $500B+ market cap, 161x P/E and 73x sales vs Nvidia's 28x. Growth is real (+93% Q2) but price needs perfection - that's why it fell after 2 of last 5 beats despite beating.6.56 billion inflow in one day, but 36.23 billion outflow in one week
$BTC net inflow of 656 million USD in 24 hours.
In the same week, net outflow of 3.623 billion USD.
How this number is calculated:
The money in one day is short-term inflow, the money in one week is medium-term withdrawal.
The two directions do not conflict, just different time scales.
Who is placing orders here:
$ETH inflow of 700 million in one day, outflow of 3.559 billion in one week.
$SOL inflow of 125 million in one day, outflow of 2.041 billion in 30 days.
$ZEC inflow of 146 million in one day, the strongest support.
Single-day inflow indicates someone is probing.
Weekly outflow still ongoing, indicating big money hasn't returned.
Probing and full-scale attack are two different things.
Only after three consecutive days of net inflow can it be considered that funds have truly returned.
#渣打开放BTC与ETH交易，银行加密业务扩展
#$BTC $ETH $SNDK $SKHYNIX Hynix has started to consolidate while SanDisk is plummeting!!!
Institutions have begun to support Hynix, so Chai didn't dare to short it, but this time Chai plans to short SanDisk hard.
Recently, Chinese manufacturers have substantially overtaken; Yangtze Memory has completed its overtake in the NAND market, and Changxin Memory's breakthrough in the DRAM field has caused panic across the entire sector, coupled with many institutions lowering target prices, leading to a temporary loss of market confidence in SanDisk.
Additionally, continuous insider selling at SanDisk, along with CPI data exceeding market expectations, dollar appreciation, and tech stocks collectively under pressure. In the short term, Hynix has triggered a protective cushion mechanism; institutions have started to support the stock, and retail investors and whales are beginning to look forward to additional shareholder returns after the Q3 earnings release.
SNDK current price is suitable for entering short positions: 1348, first target 1322, stop loss 1400. The above is personal sharing only and does not constitute investment advice.
#闪迪MSCI调仓生效，NAND估值受关注 #美国CPI超预期升至3.7%，今晚PPI再迎考验 #海力士回应美国扩产传闻 Core DAO's business on the London Stock Exchange (LSE) The truth about $CORE The token itself is not listed on the London Stock Exchange. The listed product is the BTC staking ETP product (1VBS) from third-party issuer Valour (a subsidiary of DeFi Technologies), with underlying staking technology supported by Core. Many community promotions simplify it as "Core debuting on the London Stock Exchange," which is promotional tactics and not CORE token trading. Product: 1Valour Bitcoin Physical Staking (1VBS) 1. What it is: ETP (exchange-traded product, similar to an ETF), publicly traded on the London Stock Exchange, regulated by the UK FCA, with physical Bitcoin as the underlying asset, and Bitcoin entering the Core network for non-custodial staking to generate yields. 2. Business Logic - Valour holds real BTC, with institutions cold storage and custody; - Entrust BTC to Core network validators for staking to generate staking rewards (nominal annualized rate of about 1.4%); - Staking rewards are included in the product's net asset value; investors buying this LME stock indirectly receive "BTC price appreciation + staking rewards"; - Opened to professional investors in September 2025; Obtained FCA license in January 2026, opening trading to ordinary UK retail investors. 3. Core plays a role here: underlying technology service provider - providing Satoshi-PIf the dips before the CPI were all about onboarding the same group of people, then this time BTC returning to the support level is not a coincidence but a prearranged script. Have you noticed that in the last four CPI releases, the price has chosen to continue upward? Watching the rhythm around these data points, it feels like the market is actually trading on a "bad news fully priced in" inertia. Each time before the data, it sweeps a round of lows to wash out the unsteady positions, then after the release, it moves forward lightly. This time BTC once again stands firm near support; emotionally, everyone is still shouting 75k, but the more unified the shout, the more I feel the price might not obediently go there to pick people up. The bullish logic is clear: if the historical rhythm repeats, CPI is a ready catalyst, and if support holds, the target can look toward previous highs or even new highs. ETH and SOL will also warm up with risk appetite, especially SOL, a high-beta asset that often runs faster once BTC confirms direction. But the risks must be clarified: if support is clearly broken, this judgment is invalid. Also, the market may have already priced in the "post-CPI rise" expectation in advance; if the data just meets expectations, it can easily turn into a case of good news fully priced in. Another easily overlooked point is that capital preference now leans more toward BTC dominance; altcoins need volume to follow the rally, otherwise it's just a false fire. My own rhythm is to first see if support can hold, then watch how the first 4-hour candle after the data release closes. If it closes up on volume, it means the buying is real; if it spikes then falls back on low volume, then be cautious of another fakeout Is $SOXL at a low point now?
The price looks very low, but that doesn't necessarily mean it's the bottom.
To judge whether it's the bottom, you can't just look at how much the price has dropped; you need to look at two core signals:
✅ U.S. Treasury yields stop rising and start to fall
✅ Storage, Nvidia, and other heavy holdings stabilize, with earnings reports and guidance not continuing to disappoint
As long as U.S. Treasury yields remain high, even if this is a temporary low point, it is most likely just a consolidation phase, and it's hard to directly start a big rally.
Even if there is a rebound, treat it primarily as a corrective bounce, not as the start of a new bull market.
This crash is caused by macro interest rates killing valuations + negative news in the storage sector, compounded by 3x leverage amplifying losses. The price looks cheap, but bottom-fishing leveraged ETFs carries huge risks. The bottom is made by the market's movement, not just by falling prices. #美国CPI超预期升至3.7%，今晚PPI再迎考验 $ZEC
I don't dare to buy in; 1120 was directly smashed through, with a low down to 1070
Brothers, I've been watching ZEC's trend for a long time, and I have just one sentence: don't reach out. Previously, 1120 held for a long time, and many thought it was the bottom. But this wave smashed right through it, hitting a low of 1070. Look at those big bearish candles with huge volume, which means it's not a slow decline but bulls can't hold on, getting liquidated one after another, a chain reaction. Whoever is slow to exit gets buried. This kind of stampede-like drop means the bottom is not something you can just guess.
I checked around, and $BTC and $ETH are also falling simultaneously, indicating it's not just ZEC's problem but the whole market releasing risk. At times like this, trying to bottom-fish a single coin is going against the market.
Technically, without going into jargon, 1120 was a psychological bottom before, but now that it's broken, it becomes resistance above. If it rebounds back near 1120, most likely some people will sell because too many are trapped there.
My thinking is simple: I absolutely won't bottom-fish near 1112 now. I'll wait for a rebound near 1120; if it can't break through and starts to turn down, that's where I'll short. Below, first watch 1060, and if that breaks, then look at the 1000 round number.
#美国CPI超预期升至3.7%，今晚PPI再迎考验 Hayes was still calling for a market rescue in the morning, and by the afternoon he was sweeping OTC for altcoins.
Talking macro with his mouth, but buying old DeFi faces like AERO and PENDLE with his hands.
I can only take celebrity purchases as a reference; his cost and position size are in a different league from retail investors.
He can afford to wait three months, but many people can't wait even three days.
$PENDLE #Korean stocks fell nearly 8% intraday, global tech stocks collectively under pressure $SAMSUNG
Circuit breakers have already triggered 10 times this year.
▪️ On 10/15 at 11:24 AM, KOSPI dropped over 8%, triggering a circuit breaker and pausing trading for 20 minutes, marking the 10th time this year
▪️ Intraday reported 5,529.61 points, down 7.97%; KOSDAQ 150 down 8.83%
▪️ Samsung Electronics −10%, SK Hynix −11%, Hanmi Semiconductor −10%
▪️ Nikkei 225 down 5%; Kioxia −12%, Advantest −14%
▪️ The trigger was attributed to the US CPI overnight exceeding expectations, with the probability of a rate hike in October rising to 43.7%
The disagreement is not about how much it fell this time, but that a tool meant to prevent panic has become routine.
Circuit breakers block speed, not the magnitude of the drop — the same drop completed in a day does not trigger it, but if done in half an hour, it does. The 10th time this year indicates an increase in volatility frequency. The decline is not limited to Korean stocks: semiconductors in Japan and the US also fell simultaneously during the same period.
The direction is to wait and see — stability is only confirmed when the interval between circuit breakers lengthens and foreign net selling turns positive; if frequency continues to increase, the volatility center is still rising.#TSMC Q3 Net Profit Exceeds Expectations, Profit Hits Record High The AI industry chain's performance is still growing, but the market is starting to pay more attention: How long can this round of AI investment really last? On October 15, TSMC announced its Q3 2026 results, with net profit reaching NT$763.1 billion, a year-on-year increase of about 69%, exceeding the market expectation of NT$746.3 billion, setting a new quarterly profit record. This is also TSMC's sixth consecutive quarter of record-breaking profits. Q3 revenue was about NT$1.494 trillion, up approximately 51% year-on-year. This financial report sends three important signals. First, AI computing power demand remains strong. Major customers like Nvidia and Apple continue to require advanced process chips; AI servers and data center construction remain key drivers of TSMC's performance growth. TSMC's results indicate that AI demand has not visibly cooled on the performance side. Second, advanced process technology remains the core competitive advantage. TSMC benefits not only from chip demand growth but also from the technical barriers of advanced processes and advanced packaging. However, as the 2nm process gradually scales up, gross margins may be affected by initial costs, and it will be necessary to observe whether the new process can successfully translate into profits. Third, good performance does not necessarily mean the stock price will rise. The current market concerns are not only about whether AI demand exists but also whether companies can continue to bear high capital expenditures and whether future revenues can cover the increasing investments. TSMC remains cautious about the outlook for 2027, while the US AI stock sector is also affected by rising interest rates and financing pressures. There is another big move at 8:30 tonight, PPI
After CPI exploded to 3.7% last night, today's market hasn't caught a breath. BTC at 80168, just one step away from 80,000.
ETH at 2315, down nearly 10% in three days.
ZEC is even worse, at 1080, dropping from 1695 to 1080 within a week, nearly a 40% decline.
No need to look at liquidations either, this week's 1.19 billion list just got digested, and waves keep coming these past two days. Bulls just got buried, and those trying to bottom-fish got buried again. This market now specifically targets the fast movers.
Why is tonight's PPI so critical?
CPI and PPI are conjoined twins, one upstream and one downstream. CPI beating expectations means costs have already passed from factories to shelves.
If PPI also beats expectations, it means the next round of CPI will still rise, confirming the 50 basis point rate hike priced in for December.
My view remains the same: the first spike in a downtrend is not the bottom, and the second one may not be either. Today's spike at 80168 is the second probe of 80,000, a bit more solid than the first, but as long as PPI hasn't landed, any spike is temporary.
Once the data lands, watch if BTC 80000 holds. If it holds, this week's dip is over. If not, 78000 is next.
$ZEC
What do you all think, will tonight's PPI cause another explosion or give a breather?
#美国CPI超预期升至3.7%，今晚PPI再迎考验 $BTC $ETH From the perspective of risk premium, distinguish between low-risk mainstream markets and high-Beta sector markets.
When market risk appetite is high, capital is willing to speculate on high-volatility sectors; when risk appetite contracts, capital flows back to core assets like BTC and ETH for hedging.
BTC reflects capital's hedging willingness, while ETH measures market risk premium. Layered screening: when risk premium rises, high-Beta assets experience much larger drawdowns than mainstream ones.
Tracked assets list:
🟠BTC｜Benchmark for hedging assets
🔵ETH｜Risk premium gauge
🟣SOL｜High-Beta public chain
🟢AVAX｜Ecosystem public chain
🔷INJ｜On-chain finance
Key focus on the relative strength of BTC and ETH:
When risk appetite rises, ETH/BTC rises, and high-Beta assets like $SOL and AVAX show greater elasticity; when risk appetite falls, capital flows back to BTC, and high-Beta sectors experience significant drawdowns. Bitcoin returning to 86000 is not a matter of time, but a matter of catalyst. The current price is about $80985, and 86000 is not a price issue, but a confidence issue.
Why is 86000 so firm? This is the average cost zone for investors who entered in the past two years. The cost for holders of 6-12 months is about 88000, and for holders of 1-2 years it is close to 100000. Every rebound near 86000 triggers selling to break even. Glassnode clearly lists 88000 and 100000 as major resistance levels above.
What conditions could push it back? Not technical patterns, but a macro shift. Currently, CPI is above expectations, and market concerns about a Fed rate hike in October have dropped from 50% to about 20% probability. Hawkish expectations are suppressing all risk assets. KCM Trade analysts point out that weaker-than-expected inflation data is the only way to reduce the likelihood of further tightening, which is the real short-term catalyst for an upward move.
On-chain data offers hope. Whale holdings have risen to 3.03 million BTC, with a 30-day growth rate the fastest since February this year. ETFs are selling, but large holders are buying. This signals a shift of chips from weak hands to strong hands, but until this turnover is complete, the price will struggle to effectively break through 86000.
The next observation point is very specific: this week's CPI and PPI data, as well as the FOMC meeting minutes. If inflation data unexpectedly weakens, a test of 86000 may come soon; if it remains strong, the 400-day moving average support at 80000 will face a real stress test.
$BTC This morning's sharp downward spike brutally wiped out a large number of high-leverage long positions.
The most notable figure during this shakeout was the well-known big brother Maji. Besides him, on-chain monitoring detected a whale holding long ETH positions worth 352 million. The current floating loss is nearly 19 million, just 60 dollars away from the liquidation line. If the price dips just a bit further, a liquidation event will be triggered.
One thrilling liquidation after another constantly reminds everyone: leverage can create miracles, but it can also wipe everything out in an instant. However, setting emotions aside, let's rationally view this long lower shadow.
Although this spike is highly damaging, it may not be purely bad.
From the chart perspective, this is already the third time BTC has retested the support zone around 81,000. A signal worth noting: with each drop, the scale of panic selling is gradually decreasing.
This indicates that the brainless panic exit chips are fewer; those leaving now are mostly hesitant holders who can't withstand the volatility. The market is using intense fluctuations to complete a painful process of washing out weak hands.
Looking at the macro level: US inflation data exceeded expectations, continuing to suppress global risk asset valuations. The overall pressure in the environment has not been fully relieved.
However, the crypto market repeatedly touching bottom support and testing the baseline, from a technical logic perspective, is a typical feature of bottom consolidation at low levels.Don't just remember that Big Brother Maji is a whale; in these ten days, he has collapsed to nothing but a sigh. The ledger reveals three facts: 1. Heavy losses — a total loss of $36,572,500, with an additional $4,435,600 lost in the past 7 days, leaving total account assets at only $279,800. 2. Heavy positions — 2100 ETH fully leveraged long positions, valued at $5,074,400, 25x full leverage (account shows 36.17x), opening average price 2515.81, current unrealized loss $208,900, cumulative funding fees burned $1,362,700. 3. No way out — liquidation price 2397.51, available margin 0. What does stacking these three facts mean? Less than $280,000 left in the pocket, holding $5,074,400 in positions, margin wiped out, only a needle's distance from the liquidation price, no bullets left to top up. In ten days, the whale has turned into a small fish. Leverage is like this: as great as it feels when it feeds you, it is just as ruthless when it collects. So don't focus on chasing the whale to bottom fish; those who survive long in contracts are always the ones who control their positions.The storage trio is also stunned by the drop: Micron fell 7.4%, SanDisk dropped 7.8%, and Hynix directly crashed 12.8%. The Philadelphia Semiconductor Index has also fallen for six consecutive days.
But the price drop is not the scariest part; the long-short ratio is absurd. $MU at 4.88, $SNDK at 5.01, $SKHYNIX at 5.91—each more extreme than the last, and the open interest is still rising. Micron surged from 33 million to 38 million, SanDisk from 70 million to 110 million, and Hynix doubled from 40 million to 84 million. What does this mean? The bulls keep buying as prices fall, stubbornly holding on without selling.
The fundamentals haven't actually collapsed; HBM orders are still there, and long-term contracts remain intact. But the current problem isn't fundamentals—it's that the chip structure is too tight. After such a big drop today, the bulls still haven't given up, which itself is a risk. Let the dust settle for a while; once the liquidation data stops spiking and market volatility narrows, then consider testing with a small position.
Key support levels below: Micron looks at 850, if broken then 800; SanDisk looks at 1300, if broken then 1250; Hynix looks at 900, if broken then 850.
What do you think—is this storage wave a correction or a bear market?
#韩股盘中跌近8%，全球科技股集体承压
#美光暴跌后：是底部还是半山腰？
#HBM4量产能否推动SK海力士盈利再创新高？ AI computing power demand has shifted from being "expected" to a quantifiable, structural source of revenue, and the rapid commercialization of 2nm technology has further widened the technological gap with competitors. The real test is not on the demand side—where there is virtually no ceiling—but whether TSMC can maintain its profit margin floor while simultaneously advancing 2nm capacity expansion, overseas factory construction, and next-generation process development. The current gross margin level of 66.4% remains absolutely leading in the global semiconductor manufacturing sector, but the trend of sequential contraction is worth continuous monitoring. #台积电Q3净利润超预期，盈利创历史新高 📊 Storage Giants Plunge | SanDisk, SK Hynix: Is It a Valuation or Fundamentals Crash?
Brothers, the storage sector was bloodied overnight. In one sentence: South Korea triggered a circuit breaker, SanDisk broke key support, but fundamentals and stock prices are at odds.
Let's look at the data first——
Ticker Latest Price 24H Drop Key Level
SanDisk SNDK $1,403.34 -5.33% Continued decline in after-hours to $1,339
SK Hynix (Korean stock) ₩1,277,000 -10.01% Intraday drop exceeded 12%
KOSPI Index 5,554.22 -7.57% Triggered the 10th circuit breaker this year
SanDisk slid from $1,787 in early October to $1,403, a pullback of over 20% in two weeks. SK Hynix fared worse, with intraday losses expanding to 12%, hitting the lowest price since April 27, forcing the Korea Exchange to halt trading for 20 minutes.
Why did this happen?
The trigger was the US CPI overnight exceeding expectations, with high interest rate expectations suppressing all high-valuation assets. But the storage sector fell harder than other tech stocks due to an additional reason: prior leveraged positions being liquidated. Hedge funds' leveraged positions on Korean memory chips were forced into chained liquidations, and retail investors' double-leveraged single-stock ETFs long positions also blew up simultaneously, mechanically amplifying selling pressure.
But here is a key divergence.
On October 14, Samsung Securities just released a report with a core view: "The stock price decline excessively reflects profit concerns." They maintain a buy rating on Samsung and SK Hynix, reasoning that HBM production occupies existing capacity, new production lines take time to build, and the current profit cycle in the memory industry will last longer than before. "Peak margin does not equal peak profit," so the stock price drop is a valuation cut, not a fundamentals cut.
Data from the NAND side also supports this logic. Although the 512Gb NAND trade price fell to $0.30/Gb, this is due to a severe inversion between trade prices and official factory prices. Consumer-grade NAND contract prices are actually rising—about $0.33 per Gb, up 30% to 40% quarter-over-quarter. Manufacturers prioritize advanced capacity for HBM and server DRAM, systematically squeezing supply of consumer-grade NAND.
So the current situation is: stock prices are trading on "AI bubble bursting," but industry data says "capacity is insufficient and structural."
🎯 Trading strategy, key points:
SanDisk: $1,400 is the current dividing line between bulls and bears. After-hours has already touched $1,339; if the daily close cannot recover this level, the next support is $1,250-$1,280. But note—this round of SanDisk's decline follows the sector's valuation cut, not its own performance issues. If the storage sector sentiment stabilizes later, SanDisk's rebound elasticity will be greater than the broader market. Do not short below $1,400.
SK Hynix: Korean stock sentiment is extreme; the first trading day after a circuit breaker often has aftershocks. But Samsung Securities' "buy" rating is not issued lightly; institutions are starting to turn bullish at this level. Don't cut losses in panic after the circuit breaker, and don't rush to bottom fish; wait until Korean stock trading volume normalizes.
Overall judgment: The storage sector is currently "macroeconomic sentiment suppressing fundamentals." CPI and interest rate expectations are short-term dominant variables; the long-term demand logic for HBM and AI data centers remains intact. Keep positions below half, save bullets for when sentiment clears.
📌 The above does not constitute investment advice. Leverage carries risks; don't bet on direction during circuit breakers. TSMC's revenue has already exceeded expectations, so what is the Thursday earnings call really about?
TSMC's Q3 revenue was actually announced early, about $46.7 billion, higher than the company's own forecast of $44.6 to $45.8 billion. The Thursday earnings call isn't about revenue, but about the costs behind that revenue.
closed at $485.80 on 10/6, with this year's high at $487.47; the latest available close is $472.20 on 10/8.
#DailyOrbit Bitcoin briefly dropped below $81,000 early this morning, with $935 million liquidated across the network in 24 hours, bulls accounting for $860 million.
What happened? Spot ETFs saw a net outflow of $261 million in a single day, with Fidelity's FBTC outflowing $153 million and BlackRock's IBIT outflowing $111 million. However, on-chain whales acted contrarily: large holders excluding exchanges and mining pools have increased their holdings to 3.03 million BTC, with a 30-day growth rate being the fastest since February this year, shifting from distribution to accumulation.
Why is this noteworthy? Retail investors on the ETF side are withdrawing, while large on-chain funds are accumulating. Analyst Murphy points out that Bitcoin has tested $81,000 three times, with on-chain realized losses decreasing sequentially, indicating more of a clearing of swing chips rather than widespread panic.
Which observation does this support? It supports the "chip turnover" logic, not a trend reversal. Leveraged longs are being concentratedly liquidated, but on-chain whales are absorbing.
Next, watch for one signal: when ETF outflows slow, whether whale accumulation accelerates simultaneously. The day these two directions converge will be the true turning point. $BTC Bitcoin fell below $81,000, but the most important thing to watch is not the price.
What has changed? ETFs are selling, whales are buying. Bitcoin spot ETFs had a net outflow of $261 million in one day, with Fidelity's FBTC alone seeing an outflow of $153 million. But on-chain data shows the opposite: the total holdings of large holders have increased to about 3.03 million BTC, and CryptoQuant confirms this is the fastest monthly accumulation rate since February.
Why is this worth attention? This is not an emotional sell-off; it’s a shift in holding structure. Retail investors and ETF funds are withdrawing, while large on-chain holders are accumulating.
Which market observation does this support? It supports "chip rotation" rather than "trend reversal." This round of decline was driven by CPI exceeding expectations and leverage liquidations, with nearly $1 billion liquidated across the market in 24 hours, of which $860 million were longs.
Next, watch for one signal: when ETF outflows slow down, does whale accumulation accelerate simultaneously? If both move in the same direction, that will be the real turning point. $BTC $ETH #台积电Q3净利润超预期，盈利创历史新高 Three signals to watch
When the proportion of 2nm continues to rise, whether the gross margin can hold above 65% is the most direct verification point.
The cash flow and financing situation of cloud providers; even if upstream orders are full, downstream not paying will backfire.
Price wars in mature processes: if mainland wafer fabs continue to expand capacity, TSMC can only maintain high gross margins by relying on more advanced nodes.Nearly $1B in crypto liquidations in 24 hours. $ETH took the worst hit — $286M wiped, down 6% to $2,350, worse than $BTC $197M. Leveraged longs got destroyed after hot CPI. The twist: Santiment shows ETH sentiment 2.05 bullish while BTC sits at 0.82 bearish.
My levels:
Level 1 → PPI cool at 5:30 PM = short squeeze, ETH reclaims $2,500
Level 2 → PPI hot = $2,200 comes fast
Level 3 → BTC dominance hits 60% = alts bleed more
Everyone's bullish ETH while it dumps hardest?
#DailyOrbit The first hurdle is gross margin. The Q3 guidance is 65% to 67%, with a midpoint of 66%, which is 1.7 percentage points lower than Q2's 67.7%, due to the 2nm ramp diluting about 3 to 4 percentage points. Market consensus is around 66.5%, so holding near the upper end of the range would be good news.
#DailyOrbit 2026 is not a harvest year for the Democrats: Looking back at the 2020 election map, the Democrats have far more Senate seats to defend than the Republicans. Many swing states voted blue in the presidential election but often experience a backlash effect in the midterms.
Weight of rural votes: The design of the U.S. Senate gives red states with sparse populations disproportionate weight. Even if the Democrats lead in the nationwide popular vote, losing a few key agricultural states means they cannot secure a Senate majority.
2. The double-edged sword effect of inflation and recession
Although high oil prices and inflation anger voters, this fire may burn everyone, not just the ruling party's allies.
Economic panic leads to risk aversion: If the economy truly plunges into a deep recession due to an oil price crash, voters tend to prefer divided government for stability rather than handing full power to one party to cause turmoil.
Republicans’ fiscal conservative image: Under severe inflation, some independent voters may believe Republicans are better at controlling government spending and curbing inflation, thus flipping key districts to the GOP and preventing a Democratic sweep.
3. Historical pattern: the midterm curse for the president’s party
Data does not support a sweep: In U.S. political history, the president’s party almost always loses seats in midterm elections. Although many think Trump is too weak this time and that could backfire, the opposition wave is usually limited.
Base consolidation: The Republican strongholds are extremely solid. Even if Trump’s approval rating is low, these voters will still turn out to block the Democrats. As long as the Republicans hold a few key red state seats, the Democrats’ dream of a sweep will be shattered #特斯拉交付超预期后盈利修复成焦点 $TSLA
Delivered 486,500 vehicles, 22,000 more than it produced itself.
▪️ Q3 deliveries: 486,532 units, down 2.1% year-over-year, up 1.3% quarter-over-quarter, about 25,000 units above expectations
▪️ Production during the same period: 464,391 units, deliveries exceeded production by about 22,000 units
▪️ Model 3/Y deliveries: 478,200 units, down 0.6% year-over-year
▪️ Approximately 1.32 million units delivered in the first three quarters; about 311,000 units needed in Q4 to avoid full-year negative growth
▪️ Stock price rose over 5% on the day the delivery report was released, then gave back gains
The disagreement is not about whether expectations were exceeded, but where the "excess" came from.
The excess is compared to analyst expectations, not the same period last year — year-over-year is still negative. Deliveries exceeding production by 22,000 units come from inventory, not new orders; this will need to be replenished next quarter. What truly determines profit recovery is the gross profit per vehicle.
The outlook is cautious — profit recovery only counts if Q4 deliveries exceed 311,000 units and gross margin improves quarter-over-quarter; relying on inventory reduction is just shifting stock.When CPI heats up, the whole market takes a hit. ZEC, SOL, and BTC are all falling, but the reasons behind their drops differ.
$ZEC is falling the hardest. 24h -12%, current price 1096, open interest down 13.6%, with 19 million liquidations all on the long side. Leverage is maxed out: funding rate annualized near 10%, a sudden turn triggers a stampede. 1,000 is the critical support.
$SOL is dragged down by funding but the fundamentals are solid. Current price 102.3, 24h -5%, ETF has been selling for 7 consecutive days. Q3 application revenue 365 million (+42.6%), on October 21 Alpenglow will launch on mainnet, confirmation time cut from 12.8 seconds to 150 milliseconds. Breaking 100 targets 90.
$BTC is the most resilient. Current price 80,927, down 10 points less than ZEC, whale holdings at 3.03 million coins hit a near one-year high. But USD spot is withdrawing, ETF ran 680 million last week. Breaking 80,000 targets 78,000.
Among these three, ZEC is leveraging to pay debts, SOL has money waiting, BTC’s money hasn’t fully left yet. There’s another event tonight; will the decline continue? Stay tuned #BTC现货ETF再度净流出，机构买盘能否回暖？ $AKE #美国CPI超预期升至3.7%，今晚PPI再迎考验 This wave of AKE is not simply a “14% increase.”
24-hour low at 0.02413, high at 0.02954, close to a one-sided rebound. In 1 hour, active buy volume was 32.979 million tokens, active sell volume was 23.4506 million tokens, with active buy volume about 1.41 times the active sell volume. Open interest simultaneously rose to 122 million tokens, but the funding rate was only 0.005%, indicating bulls dominate without obvious crowding.
What does this indicate?
The market has indeed strengthened, but has not lost rationality yet.
Looking at two other details:
Long accounts account for 62.88%, with a long-short account ratio of 1.69. This data only shows a higher number of accounts, not the strength of the capital. A small holder with 100 USDT and a large holder with 1 million USDT have completely different weights in the account ratio.
At 16:00, the basis was about -0.00001 USDT, with a price spread rate of -0.034%, basically close to neutral. There is no runaway price spread between futures and spot, nor obvious independent overheating in futures.
Therefore, the most accurate current assessment is:
The bullish rebound has been established, but the trend reversal is still awaiting confirmation. $BTC $ETH I looked into it, and the root cause of this decline is still the US inflation data exceeding expectations. The market is starting to think that the Federal Reserve will delay rate cuts, and even doesn't rule out further rate hikes. As US Treasury yields keep rising, all high-risk assets are under pressure, with US tech stocks, storage, and cryptocurrencies all dropping together.
First, let's talk about US stocks, especially the storage sector we've been watching. It had risen too much before, and the stock prices had already priced in the AI benefits in advance. Now, investors have become very picky; if earnings reports are even slightly below expectations, the stock gets sold off immediately.
Take SanDisk, for example, stuck at the 1500 resistance level for a long time, with many profit-taking positions waiting to be cashed out. Plus, Musk's tweet supporting Micron made the market worry that SanDisk's price increase might be too steep and lose customers, so bulls don't dare to push the price up aggressively.
In the short term, storage stocks are unlikely to rally straight back to new highs; they will probably fluctuate repeatedly, bouncing on good news but getting pushed down again when macroeconomic negatives appear.
Now, about the crypto space, like ETH and BTC.
They are most sensitive to interest rates; as long as the market expects rates to stay high, funds are unwilling to stay in crypto.
Once the market goes down, leveraged positions explode in a chain reaction, causing the drop to be much sharper than stocks. Even if there is a rebound in between, it looks more like a correction, making it hard to start a new big bull market immediately.
Next, let's look at two things:
US Treasury yields and statements from US officials.
As long as Treasury yields keep rising, it's hard for risk assets to have a big rally.
Only when inflation falls and the market starts betting on rate cuts again will funds return on a large scale.
In summary:
We are currently in a weak sentiment consolidation phase, so don't rush to bottom-fish Yesterday the market signaled: inflation is more stubborn than expected, and capital is beginning to recalculate the valuation of risk assets. The US September CPI rose 3.7% year-on-year, higher than the expected 3.6%; core CPI rose 2.6% year-on-year, also above expectations. The Nasdaq fell 1.88%, and BTC briefly dropped below 81,000 USD. 👇 Next, I will focus on 1️⃣ Interest rate expectations, the key to this round of decline Inflation exceeding expectations means the Federal Reserve may need to maintain high interest rates for a longer period, and a rate hike is not ruled out. High interest rates will suppress tech stock valuations and reduce the willingness of capital to hold high-risk assets. However, today the US Treasury yields have fallen back from their highs, indicating the market is not simply trading along the logic of "high inflation = continuous rate hikes." We still need to watch PPI and statements from Federal Reserve officials. 2️⃣ Issues in the AI sector are shifting from growth to returns This time, the impact is not only on chip stocks; some AI infrastructure companies have fallen even more. The market worries: if financing costs continue to rise, can the huge AI investments really deliver the expected returns? TSMC's performance and AI demand still provide fundamental support, but good performance does not mean the stock price will immediately rebound. The key is whether future guidance can continue to exceed market expectations. 3️⃣ BTC needs to be cautious of leveraged liquidations and also observe whether capital is flowing back After BTC fell below 81,000, market sentiment clearly weakened. In the latest market, BTC is still under pressure around 80,000, ETF #TSMCQ3RecordProfit https://okx.ac/ul/8Ma1r6Q
TSMC's revenue has already exceeded expectations, so what is the Thursday earnings call really about?
TSMC's Q3 revenue was actually announced early, about $46.7 billion, higher than the company's own forecast of $44.6 to $45.8 billion. The Thursday earnings call isn't about revenue, but about the costs behind that revenue.
upward, but the current ceiling. Management previously said capital expenditure would be "significantly higher" over
#TSMCOn October 13, Anthropic disclosed in an official engineering article that their internal daily code merges increased from about 2,500 times in May to over 30,000 times in September. Seven engineers spent five months developing the version control system Scion, the code review tool Antique, and several related systems, completing the migration of the main repository. Against the backdrop of accelerated AI coding, this company chose to rebuild the infrastructure that supports code. The question worth asking is: what constraints did the original system face, and why was it worth the cost to migrate the entire development process? Merging 30,000 times daily is accompanied by 25 million checkouts behind the scenes. Version control is responsible for recording code changes, supporting multi-person collaboration, and integrating individual modifications into a shared version. The faster code is generated, the more work may be needed afterward to move, check, and integrate it. Anthropic revealed that their main branch history is about 100GB, and the compressed working copy still exceeds 25GB. Meanwhile, the continuous integration system, i.e., the CI that automatically builds and tests code, performs about 25 million code checkouts daily. These two counts should not be confused. Merging incorporates changes into the shared version; checkout prepares the corresponding version of the code for a specific task. The same code may be checked out repeatedly by different tests and jobs, so the checkout volume can be much higher than the merge volume. This explains why infrastructure has become a focus: even saving a little resource each time code is prepared, multiplied by tens of millions of operations daily, can create a considerable difference. Shortening the time needed to write a piece of code does not necessarily mean the entireAt 8:30 tonight, everyone's eyes will be fixed on the same number.
But before that number lands, the funding rates have already "spoken" in advance.
📊 Comparison of funding rate data from two major platforms
Platform A (cumulative funding rates):
▪ $BTC: 0.0039%
▪ $ETH: 0.0082%
▪ $SOL: 0.0163%
Platform B (current funding rates):
▪ $BTC: 0.0035% (slightly positive)
▪ $ETH: -0.0043% (rate turned negative)
▪ $SOL: 0.0033% (slightly positive) Supply is ready, but where are the customers?
Regarding $TAO, I want to ask further: are participants competing for network rewards, or have they already found customers willing to pay?
Bittensor incentivizes mining, validation, and other participation behaviors by issuing TAO and subnet tokens.
Rewards can attract people to provide services, but whether there is demand for the services still needs to be verified separately.
If a subnet offers good rewards but has very few external customers, it looks more like building supply. To improve long-term expectations, I need to see service quality, repeat usage, and payment demand gradually catching up; enthusiasm for participation cannot be directly counted as revenue.
For $FIL, you can’t just count hard drives.
Storage capacity means how much business can be taken, but how much is actually stored and how much customers are willing to pay are two different questions.
I pay special attention to renewals: the first use might be a trial, but willingness to continue paying to store data better indicates the service’s value.
Capacity expansion can be planned in advance, but if orders don’t come in over the long term, equipment and maintenance costs still have to be borne.
For $ARB, the question is how application growth affects token demand.
Arbitrum One uses ETH to pay fees, ARB plays a governance role, and increased transactions do not require users to buy ARB proportionally.
So when I see an active ecosystem, I continue to investigate: what income growth generates, and how governance arranges these resources. Network development is worthy of recognition, but reasons to hold tokens still need specific mechanisms to support them.TSMC's Q3 record profit is notable not just for the 68.7% year-on-year increase, but for the mix behind it: advanced nodes supplied 79% of wafer revenue while 2nm was still only 8%. That suggests AI demand is already monetising at scale, although the durability of that demand remains the open question.
#TSMCQ3RecordProfit During the market pullback, PYTH rose against the trend by 5.74% to touch $0.08772, entering OKX's altcoin movement list.
The market dropped 4.85% in a single day, but PYTH on OKX rose 5.74% against the trend, reaching $0.08772. If you hold spot, there's no need to rush into contracts. I checked overseas news and reports this afternoon; Bloomberg revealed that mainstream derivatives positions shrank by $14 billion, but RWA perpetual positions linked to stocks and gold rose to $9 billion. Pyth accounts for 94.1% of this type of data pricing. Plus, the community previously decided to use all external income to buy back tokens, so short-term buying surged today on this news.
Switching to the OKX market page to check the market. BTC dropped 3.35% to $81,271.3, ETH fell 6.21% to $2,369.11. OKX perpetual total positions stand at $7.673 billion, with BTC holding $3.096 billion, altcoin contracts at $2.878 billion, and the altcoin-to-BTC position ratio at 0.929. The fear and greed index is neutral at 53. The total network market cap fell 4.85% to $2.73 trillion, with BTC market dominance rising to 59.52%. PYTH recorded a trading volume of 14.1 million USDT, making it one of the few altcoins moving green against the trend today. TSMC announced its Q3 financial report and held an earnings call today
but the revenue part
was actually already known by the market.
September revenue was 511.86 billion yuan,
a 54.6% increase compared to the same period last year;
Q3 total revenue was about 1.49 trillion yuan,
setting a new historical high,
and exceeding the upper end of the company's own financial forecast given in July.
Cumulative revenue for the first three quarters grew by over 40%.
So the real focus today is not the numbers already announced,
but three things that have not yet been disclosed:
Q4 financial forecast
whether the momentum of AI demand can continue until the end of the year.
Gross margin guidance
whether the cost dilution in the early stage of advanced processes
will converge as expected.
Next year's capital expenditure plan
this is the most important.
Capital expenditure is a bet on demand for the next two to three years.
It represents not TSMC's own view,
but what it sees from customer orders.
The financial report talks about the last quarter,
capital expenditure talks about the next cycle.